Product Help?

[Nigami Enterprise]

Hi Im about to get a new product/invention developed over in China. The product is going to be sold on the net and in retail shops. My question is the product should cost around $5-$8 to produce/package and ship and it should retail for between $40-$50. Now I am hoping to sell it in bulk to some large wholesale chains but i have no idea on wat sort of profit they expect to make for each product they sell. Does anyone have any experience or know where i can find some info on this. For example if i sold each unit to them for $30 would they be happy with just $10-$20 profit or would i have to sell it to them for $15 any info would be great thanks

[Aletheides]

Wholesale markup is usually 20-40%. Retail markup is 100%+

[paul2145r]

I have seen bulk/wholesale chains being happy with a 5cent profit on many inexpensive products. I believe it will come down to market (convincing them that the public will BUY buy buy!), and social networking (finding the people that make the decisions).

[kozuch82]

100%+ is grose.

[artdrops]

Sell it to QVC!

[riscphree]

Wholesale markup is usually 20-40%. Retail markup is 100%+

He hit it right on the money there, I worked in retail a while ago and we had the responsibility to buy things for 6 stores so we dealt with sales men all the time.

[more freedom]

What product are you talking about here?

May be different countries have different rules

[Nigami Enterprise]

Thanks for the info,
It's an exercise product similar to a pedometre.
Does anyone know what sort of amount retail stores/web sites purchase in. So if i was selling it in bulk to them for $30 a unit how many would they want to buy. thanks